Buy Bitcoin on ShakePay – Hello everyone and welcome back to my Website. As many of you are aware, Bitcoin has been on an upward trajectory lately. If you’re considering entering the market now that prices are beginning to drop a bit, I thought I would do a tutorial on how to use Shake Pay, a Canadian trading platform that allows you to buy, sell, and store cryptocurrency with zero commission fees. let’s get into the blog!
How to Use ShakePay to Buy and Sell Cryptocurrency
Getting Started – To begin, you’ll need to download the ShakePay app from the App Store. Once downloaded, create a new account and follow the instructions to provide your personal information for identity verification. This is a standard request on all Canadian trading apps.
How to Deposit Funds on ShakePay?
After setting up your account, you’ll see the main interface of the app. To deposit funds, click on “Add Funds” at the top right. There are four different funding options, but the most straightforward one is the interactive transfer. Note the email address and security question/answer provided on this screen, as you’ll need them when sending the transfer from your banking app. You can also send Bitcoin or Ethereum directly to your Shake Pay wallet using the QR code provided by the app.
How to Buy Bitcoin on ShakePay?
Purchasing Bitcoin – If you want to purchase Bitcoin, click on the arrow at the bottom of the screen and select “Buy and Sell.” You can either select the maximum amount you want to spend or input a specific amount. The app will automatically convert the dollar value into the number of bitcoins you can purchase. Confirm your purchase, and you’re done!
Transaction History
The app provides a transaction history for each coin you’ve traded. You can view the number of times you’ve bought and sold Bitcoin, for example.
Using Limit Buy and Limit Sell
Limit orders allow you to set a specific price target at which the app will buy or sell the cryptocurrency you’re interested in. This feature is useful to protect yourself from price fluctuations. To create a limit order, click on the double arrow at the bottom of the screen and select “Limit Orders.” From there, you can set a buy or sell order with your desired price and quantity.
Selling Cryptocurrency
When selling cryptocurrency on Shake Pay, keep in mind that there is a spread, which is the difference between the buy and sell price. Currently, the spread is between one and two percent on this app.
Cashing Out
To cash out, click on the send arrow at the top and select “Cash Out to My Bank.” Follow the instructions on the screen to complete the process.